Posts Tagged dow jones
It just goes to show that you never really know where the markets are going. I had moved my stop up a bit as the previous stop under the pin would be a full 2% loss if it hit. Moving up the stop to a previous low meant a loss on this trade would be 1%.
Well, the markets fell extremely quickly today and took me out of the trade. Of course, it was disappointing and I would still be in my trade if the stop was below the pinbar but even if I was and saw the strength of this fall.. I would h
May 30, 2012
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Remember the DOW trade from last week which I've been following? Today, back to normal trading volumes, the DOW finally showed some strength. It pushed up and closed at the top which is bullish.
You can see where I have drawn resistance, I'm expecting prices to reach here and will take my profit below this level at 12750. I've also highlighted where the pin bar is which brought this trade to my attention.
I don't particularly use indicators but you can see that MACD is starting to turn
May 29, 2012
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I went long on the DOW the other day, see the daily chart of the Dow below... it had hit support and the second time it did so, there was a pin bar pattern indicating strength with the buyers. The second day, you can see continued strength but today, there has been some selling. I went long at the break of the nose of the pin bar and my stop is 5 pips under the bottom of the pin. The trend is down however but this is a reversal play. It is risky considering how weak the market is but this could
May 25, 2012
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